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Join the Securities Litigation and Enforcement Group on LinkedInTourre Seeks Leniency in S.E.C. Case – NYTimes.com
In a court filing on Tuesday, Mr. Tourre’s lawyers attacked the Securities and Exchange Commission’s pursuit of more than $1 million in penalties, calling it “unwarranted and unjust” and “unreasonably severe.” Mr. Tourre’s lawyers are proposing something far smaller: a maximum penalty of $65,000. via Tourre Seeks Leniency in S.E.C. Case – NYTimes.com
FY 2014 Appropriations Act Cuts SEC’s $50M Reserve Fund in Half – Compliance Week
H.R. 3547, the omnibus 2014 spending bill passed by Congress and signed into law by President Obama last week, contains more bad news for the SEC than just the meager 2% increase it provides for the SEC’s budget. A provision in the new law quietly strips away half of a $50,000,000 Reserve Fund that the […]
Securities Docket News Wire for January 21, 2014
Get caught up with the Securities Docket News Wire for January 21, 2014.
Key Witness in Martoma Trial Says He Lied to F.B.I. – NYTimes.com
Dr. Sidney Gilman, the government’s star witness in its case against Mathew Martoma, a former SAC Capital Advisors portfolio manager, testified on Tuesday that he lied to F.B.I. agents and regulators for nearly a year about passing inside information to Mr. Martoma. “I was intensely ashamed of it,” Dr. Gilman said. “I was hoping the […]
Martoma Defense Walks a Tightrope – NYTimes.com
The trial of Mathew Martoma presents a challenge often seen in recent insider trading prosecutions: how to mount a defense denying any wrongdoing when the defendant is unlikely to testify. One way to persuade a jury to return a not-guilty verdict is by focusing on the ordinary nature of the trading to raise questions about […]